travlos nickolaos g - alba · professor (chair) in finance and accounting surrey business school...

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Nickolaos G. Travlos

Professor (Chair) in Finance and Accounting Surrey Business School

Faculty of Arts and Social Sciences, University of Surrey Guildford, Surrey, GU2 7XH, UK

E-mail address: [email protected] Telephone: +44 (0) 1483 68430 (O)

Mobile: +44 (0) 7766146394

Detailed CV EDUCATION October 1984: New York University, Graduate School of Business Administration, Doctor of Philosophy (Ph.D), Major: Finance, Dissertation: Takeovers and Method of Payment: The Effect of Alternative Financing Schemes on Common Stock Prices of Bidding and Target Firms February 1981: New York University, Master of Philosophy (MPhil), Major: Finance February 1979: New York University, Master of Business Administration (MBA), Major: Finance August 1975: University of Athens, Greece, Bachelor of Arts, Major: Economics ACADEMIC EXPERIENCE September 2016 to present: Surrey Business School, University of Surrey, Professor (Chair) in Finance and Accounting September 1998 to August 2016: ALBA Graduate Business School, Greece, Dean and The Kitty Kyriacopoulos Chair in Finance 1998 to 2006: Cardiff Business School, UK, Distinguished Senior Research Fellow (40% contract) 1995 -1997: ALBA Graduate Business School, Greece, Professor of Finance and MBA Director 1992-1995: ALBA Graduate Business School, Greece, Associate Professor of Finance (One of the five founding faculty members of the School. Helped develop, organize and run the MBA Program) 1997 – 1998: University of Piraeus, Department of Banking and Finance, Greece, Professor of Finance and Director of the MSc Program in Banking and Finance; Developed and Organized the Program 1994 – 1998: University of Piraeus, Department of Banking and Finance, Greece, Professor of Finance 1993 – 1997: University of Piraeus, Department of Banking and Finance, Greece, Chairperson

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1990 – 1994: University of Piraeus, Department of Banking and Finance, Greece, Associate Professor; Taught Financial Management, Corporate Finance, Financial Policy and Strategy. Initiated Fund Raising, Career Days, Research Grants, Conferences, Research Centre 1990 – 1996: Boston College, Wallace E. Carroll School of Management, USA. Associate Professor with Tenure 1984 – 1990: Boston College, Wallace E. Carroll School of Management, Department of Finance, Assistant Professor; Taught Basic Finance, Corporate Finance (MBA, MSc), Financial Analysis and Management, Financial Theory and Corporate Policy (MSc), Financial Management (MBA), Advanced Topics in Corporate Finance (Ph.D), Seminar in Corporate Finance (Ph.D) 1982 – 1984: New York University, Graduate Business School, USA. Adjunct Instructor; Taught Financial Management and Introduction to Modern Portfolio Analysis in graduate and undergraduate classes. 1981 – 1982: Baruch College, City University of New York, USA. Instructor of Economics and Finance; Taught Advanced Corporate Finance, Investments, and Advanced Investments. 1980 – 1981: New York University, College of Business and Public Administration, USA. Teaching Fellow; Taught Problems in Financial Management ACADEMIC ACHIEVEMENTS 2008: Recognized as one of the “most contributing” authors in the Journal of Finance, “the gold standard in academic finance literature”, over its six decades of existence. Among the 3,276 authors, worldwide, who have published in the Journal of Finance, Ranked 63rd for the period 1946-2005, with nine appearances, and 39th for the sub period 1976-2005. (See, Jean L. Heck and Philip L. Cooley, “Sixty years of research leadership: contributing authors and institutions to the Journal of Finance”, Journal of Review of Quantitative Finance & Accounting, 2008) 2005: International Academic Distinction. The only Greek to be included in the list of the 332 most prolific authors who, among 17,573 authors worldwide, have published their work in the top seven (7) Finance Journals over the last fifty years (1953-2002). For more information, please see “Prolific Authors in the Finance Literature: A Half Century of Contributions” by Jean L. Heck and Philip L. Cooley, Journal of Finance Literature, winter 2005. 2000-2001: President, European Financial Management Association 1999-2000: Chair of Program Committee, 9th Annual Conference of European Financial Management, Athens, Greece, June 27-July 1, 2000 1999-2000: President, Multinational Finance Society 1998: Awarded the Kitty Kyriacopoulos Chair in Finance, the very first endowed Academic Chair in Greece 1996-1997: Chair of Program Committee, 4th Annual Conference of the Multinational Finance Society, Thessaloniki, Greece, June 25-29, 1997

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1996: Awarded Research Grant from Alpha Credit Bank 1994: One of my publications (Journal of Finance, 1987b) was included in the list of the top twenty most influential papers in Finance 1991: Awarded Research Grant from the Commercial Bank of Greece to develop a data base for daily returns of the Athens Stock Exchange stocks for the period, 1981-1990 1985 – 1990: Awarded summer Research Grants from Boston College 1986: Awarded Research Fellowship from Boston College; Awarded fellowships and research assistantships from NYU/GBA during doctoral studies. 1976 -1978: Awarded a full scholarship for the MBA program from the National Bank of Greece 1975: Graduated with honours out of a class of 500 students at the University of Athens, Greece PUBLICATIONS Refereed Articles in Scholarly Journals 1. Nickolaos G. Travlos with George Alexandridis, and Nick Antypas “Value Creation

from M&As: New Evidence”, Journal of Corporate Finance, 2017

2. Nickolaos G. Travlos with Jay Dahya, Andrey Golubov, and Dimitris Petmezas “Governance Mandates, Outside Directors, and Acquirer Performance”, Journal of Corporate Finance, 2016.

3. Nickolaos G. Travlos with Andrey Golubov and D. Petmezas "Do Stock-Financed

Acquisitions Destroy Value? New Methods and Evidence", Review of Finance 19 (6) (October 2015).

4. Nickolaos G. Travlos with N. Karampatsas and D. Petmezas, “Credit Ratings and the Choice of Payment Method in Mergers and Acquisitions”, Journal of Corporate Finance 25, 474-493, 2014

5. Nickolaos G. Travlos with E. Oltheten, T. Sougiannis, and S. Zarkos, “Greece in the

Eurozone: Lessons from a decade of experience”, The Quarterly Review of Economics and Finance, November 2013

6. Nickolaos G. Travlos with G. Alexandridis, K. P. Fuller, and L. Terhaar, “Deal Size,

acquisition premia and shareholder gains”, Journal of Corporate Finance, 2013

7. Nickolaos G. Travlos with A. Golubov and D. Petmezas, “When it Pays to Pay Your Investment Banker: New Evidence on the Role of Financial Advisors in M&As”, The Journal of Finance, February 2012

8. Nickolaos G. Travlos with E. Croci and D. Petmezas, “Asymmetric information and target

firm returns”, The European Journal of Finance, Vol. 18, No. 7, August 2012

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9. G. Alexandridis with C. Mavrovitis, and Nickolaos G. Travlos “How have M&As changed? Evidence from the sixth merger wave”, The European Journal of Finance, 1-26, 2011

10. Nickolaos G. Travlos with G. Alexandridis and D. Petmezas “Gains from M&As Around

the World. New Evidence”, Financial Management, December 2010

11. Nickolaos G. Travlos with G. Papaioannou and K.G. Viswanathan “Visibility Effects and Timing in Stock Listing Changes: Evidence from Operating Performance”, Quarterly Review of Economics and Finance 49, 357 – 377, May 2009

12. Nickolaos G. Travlos with George N. Leledakis, George J. Papaioannou, and Nickolaos

V. Tsangarakis “Stock splits in a neutral transaction cost environment: Evidence from the Athens Stock Exchange”, Journal of Multinational Financial Management, 2009

13. Nickolaos G. Travlos with Philip J. Mcknight, T. Milonas and Charlie Weir “The

Cadbury Code Reforms and Corporate Performance” Icfai University Journal of Corporate Governance, January 2009

14. Nickolaos G. Travlos with Nikolaos T. Milonas, Jason Zezhong Xiao and Cunkai Tan,

“The Ex-Dividend Day Stock Price Behavior in the Chinese Stock Market”, Pacific-Basin Finance Journal, Vol. 14, 2006

15. Nickolaos G. Travlos, with Vasilis Theoharakis and E. Oltheten, “Faculty Perceptions

of Finance Journals: A Global View”, Journal of Financial and Quantitative Analysis. March 2005

16. Nickolaos G. Travlos, with P. Protopapas and G. Tsagarakis “Mergers and Acquisitions

in Greece: Stock Price Reaction of Acquiring and Target Firms”, Spoudai, October-December 2003 (voted best paper for the year)

17. Nickolaos G. Travlos with G. Papaioannou and K.G. Viswanathan, "The Operating

Performance of Firms that Switch their Stock Listing", Journal of Financial Research, Vol. 26, Issue 4, Winter 2003

18. Nickolaos G. Travlos with J. Doukas and M. Holmen, "Diversification, Ownership and

Control of Swedish Corporations", European Financial Management, Vol. 8, Issue 3, September 2002

19. Nickolaos G. Travlos with J. Dahya and J. McConnell, "The Cadbury Committee,

Corporate Performance, and Top Management Turnover", The Journal of Finance, 57 (1), February 2002

20. Nickolaos G. Travlos with L. Trigeorgis and N. Vafeas, “Shareholder Wealth Effects of

Dividend Policy Changes in an Emerging Stock Market: The Case of Cyprus”, Multinational Finance Journal, June 2001, Vol. 5, Issue 2 (voted best paper for the year)

21. Nickolaos G. Travlos with G. Papaioannou and N. Tsangarakis, "Valuation effects of

Greek stock dividend distributions", European Financial Management, Vol. 6(4), December 2000

22. Nickolaos G. Travlos with J. Dahya, "Does the One Man Show Pay? Theory and

evidence on the Dual CEO Revisited", European Financial Management, Vol. 6(1), 2000

23. Nickolaos G. Travlos with J. Barkoulas and K. Baum, "Long Memory in the Greek Stock

Market", Journal of Applied Financial Economics, Vol. 10, 2000

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24. Nickolaos G. Travlos with J. Barkoulas, "Chaos in an Emerging Capital Market? The

Case of the Athens Stock Exchange", Journal of Applied Financial Economics, Vol. 8, 1998

25. "Sources of Gain from Domestic and International Acquisitions", Corporate Finance

Review, Vol. 1, no 3, pp. 25-33, December 1996

26. Nickolaos G. Travlos with Gil Manzon and David Sharp, "An Empirical Study of the Consequences of US Tax Rules for International Acquisitions by US Firms", The Journal of Finance, December 1994

27. Nickolaos G. Travlos with Elizabeth Strock-Bagnani, Nikolaos Milonas and Anthony

Saunders, "Managers, Owners and the Pricing of Risky Debt: An Empirical Analysis" , The Journal of Finance, June 1994

28. Nickolaos G. Travlos with Marcia Millon Cornett, "Going Private Buyouts and

Determinants of Shareholders Returns", Journal of Accounting, Auditing and Finance, p. 1-3, 1993

29. Nickolaos G. Travlos with George Papaioannou and Elizabeth Strock, "Ownership

Structure and Corporate Liquidity Policy", Managerial and Decision Economics, Vol. 13, pp. 315-22, 1992

30. Nickolaos G. Travlos with Sinan Cebenoyan and George Papaioannou, "Foreign

Takeover Activity in the US and Wealth Effects for Target Firm Shareholders", Financial Management, pp. 58-68, 1992

31. Nickolaos G. Travlos with James Waegelein, "Executive Compensation, Management

Ownership, Corporate Control and Abnormal Returns to Bidding Firms at Takeover Announcements", Managerial and Decision Economics, Vol. 13, pp. 493-501, 1992

32. Nickolaos G. Travlos with George Papaioannou, "Corporate Acquisitions: Method of

Payment Effects, Capital Structure Effects and Bidding Firms Stock Returns", Quarterly Journal of Business and Economics, pp. 3-22, Autumn 1991

33. Nickolaos G. Travlos with Yakov Amihud and Baruch Lev, "Corporate Control and the

Choice of Investment Financing: The Case of Corporate Acquisitions" , The Journal of Finance, pp. 603-16, June 1990

34. Nickolaos G. Travlos with Anthony Saunders and Elizabeth Strock, "Ownership

Structure, Deregulation and Bank Risk Taking" , The Journal of Finance, pp. 643-54, June 1990

35. Nickolaos G. Travlos with Marcia Millon Cornett, "Information Effects Associated with

Debt-for-Equity and Equity-for-Debt Exchange Offers" , The Journal of Finance, pp. 451-468, June 1989

36. Nickolaos G. Travlos with John Doukas, "The Effects of Corporate Multinationalism on

Shareholders' Wealth: Evidence from International Acquisitions" , The Journal of Finance, pp. 1161-1175, December 1988

37. Nickolaos G. Travlos with Hassan Tehranian and James Waegelein, "The Effect of

Long-term Performance Plans on Corporate Sell-Off-Induced Abnormal Returns" , The Journal of Finance, pp. 933-942, 1987

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38. "Corporate Takeover Bids, Method of Payment, and Bidding Firms' Stock Returns", The Journal of Finance, pp. 943-963, 1987

39. Nickolaos G. Travlos with Hassan Tehranian and James Waegelein, "Management

Compensation Contracts and Merger-Induced Abnormal Returns", Journal of Accounting Research, pp. 51-76, 1987 (Supplement)

40. Nickolaos G. Travlos with Marcia Millon Cornett, "An Examination of the Motivation

for Leveraged Buyout Proposals" , Spoudai, pp. 177-202, January-June 1987 Monographs 41. "Creation of a Stock Market Data Bank and Risk Return Characteristics of Common

Stocks for the Period 1981-1990" , Athens Stock Exchange, Piraeus, 1992 (In Greek) Working Papers 42. Credit Default Swaps and corporate Acquisitions (with Paul Guest, Nikolaos

Karampatsas, and Dimitrios Petmezas), under review

43. Selling to Buy: Asset Sales and Method of Payment in M&As (with C. Mavis, N. Mc Namee, and D. Petmezas)

44. The Ex-Dividend Day Stock Price Behavior in the Athens Stock Exchange (with N.

Milonas)

45. An Investigation Into Corporate Governance in Greece (with N. Milonas, A. Solomon and J. Solomon)

Work in Progress 46. In search of drivers of value creation in acquisitions

47. In search of drivers of value destruction in acquisitions

48. The use of contingent payments in M&As

49. Strategic default incentives during financial crises

50. Bidders and targets made for each other

Conference Presentations 51. “Idiosyncratic Volatility, Takeover Premiums & Target Gains”, Financial Management

Conference, Turin Italy, June 2009

52. “Depth of the Market for Corporate Control and Gains to Public Acquisitions”, Best Paper Award, MW Finance Association Conference, Oklahoma U.S.A., February 2009

53. “Depth of the Market for Corporate Control and Gains to Public Acquisitions”,

European Financial Association Conference, Athens Greece, August 2008

54. “The Cadbury Code Reforms and Corporate Performance”, Multinational Finance Society Conference, Athens, Greece, July 2-7, 2005

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55. “Stock Splits in the Athens Stock Exchange”, Multinational Finance Society Conference, Istanbul, Turkey, July 5-8, 2004

56. “Corporate Governance in Banking and the New Basel Accord”, IBSS 2004, Kos, June

30, 2004 57. “Stock Listing Changes: Timing or Signaling”, Tenth Annual Conference of the

Multinational Finance Society, Montreal, Canada, June 2003 58. “The Development of Corporate Governance Systems”, European Lawyers’ Union

Annual Meeting, Chania, Greece, June 13-15, 2002. 59. "The Ex-Dividend Day Stock Price Behavior in the Chinese Stock Market", European

Financial Management Association 2002 Conference, London, U.K., June 26-29, 2002. 60. "The Ex-Dividend Day Stock Price Behavior in the Chinese Stock Market", Ninth

Annual Conference of the Multinational Finance Society, Paphos, Cyprus, June 30 - July 3, 2002.

61. "The Ex-Dividend Day Stock Price Behavior In the Athens Stock Exchange" ,

Multinational Finance Society Conference, Lake Garda, Italy, July 2001 62. "The Ex-Dividend Day Stock Price Behavior in the Chinese Stock Market", Second

China Accounting and Finance Review Conference, Tsingua University, Beijing, China, April 2001

63. "The Ex-Dividend Day Stock Price Behavior In the Athens Stock Exchange" , European

Financial Management Association Conference, Lougano, Switzerland, June 2001

64. "The Cadbury Committee, Corporate Performance and Top Management Turnover" , European Financial Management, 9th Annual Meeting, Athens, June 2000

65. "The Cadbury Committee, Corporate Performance and Top Management Turnover" ,

Multinational Finance Society Conference, 7th Annual Meeting, Philadelphia, April 2000

66. "The Cadbury Committee, Corporate Performance and Top Management Turnover" ,

Financial Management Association, Florida, October 1999

67. "The Cadbury Effect: An Examination of Government-led Proposals Forcing Firms to Alter Board Composition and their Impact on Corporate Performance" , European Financial Management, 8th Annual Meeting, Paris, June 1999

68. "The Operating Performance of Firms that switch their Stock Listing" , Multinational

Finance Society, 6th Annual Meeting, Toronto, Canada, June 1999

69. "The Operating Performance of Firms that switch their Stock Listing" , Financial Management Association, , Chicago, October 1998

70. "Stock Dividends in Greece: Motives and Effects on Firm Value" , 5th Annual

Multinational Finance Conference, Helsinki, Finland, June 1998

71. "The Post Issue Price and Operating Performance of Greek IPOs" , 4th Annual Multinational Finance Society Conference, Thessaloniki, June 1997

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72. "Chaos in Emerging Capital Market: The Case of Athens Stock Exchange" , 3rd Annual Multinational Finance Society Conference, Washington, USA, June 1996

73. 521. "Greek Capital Markets" , University of Cyprus, June 1995

74. "Greek IPOs: Theory and Evidence" , 2nd Annual Multinational Finance Society Conference, Philadelphia, USA, June 1995

75. "An Empirical Study of the Consequences of US Tax Rules for International

Acquisitions by US Firms" , Financial Management Association, Toronto, Canada, October 1993

76. "An Empirical Study of the Consequences of US Tax Rules for International

Acquisitions by US Firms" , American Accounting Association, San Francisco, Ca, August 1993

77. "Managers, Owners and the Pricing of Risky Debt: An Empirical Analysis" , European

Finance Association, Athens, August 1990

78. Nickolaos G. Travlos with James Waegelein, "Executive Compensation, Management Ownership, Corporate Control and Abnormal Returns to Bidding Firms at Takeover Announcements" , American Accounting Association, Hawaii, August 1989

79. Nickolaos G. Travlos with Sinan Cebenoyan and George Papaioannou, "Foreign

Acquisitions of US Firms: Shareholder Wealth Effects and Reverse Foreign Direct Investment Theories" , Eastern Finance Association, Philadelphia, PA, April 1989

80. Nickolaos G. Travlos with Elizabeth Strock and George Papaioannou, "Equity

Ownership Structure and the Liquidity of the Firm" , Financial Management Association, Boston MA, October 1989

81. Nickolaos G. Travlos with Nikolaos Milonas, "Valuation Effects of Debt Offerings on

Common Stock and Bond Prices of Issuing Firms" , American Finance Association, New York, NY, December 1988


Structure, Deregulation and Bank Risk Taking" , Financial Management Association, New Orleans, LA, October 1988


Structure, Deregulation and Bank Risk Taking" , European Financial Association, Istanbul, Turkey, September 1988


Structure, Deregulation and Bank Risk Taking" , Western Finance Association, Napa, CA, June 1988


Structure, Deregulation and Bank Risk Taking" , 24th Conference on Bank structure and Competition, Federal Reserve Bank of Chicago, Chicago, IL, May 1988


Common Stock and Bond Prices of Issuing Firms" , Eastern Finance Association, Ball Harbour, FL, April 1988

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87. Nickolaos G. Travlos with Nikolaos Milonas, "Valuation Effects of Debt Offerings on Common Stock and Bond Prices of Issuing Firms" , Financial Management Association, Las Vegas, NV, October 1987

88. Nickolaos G. Travlos with Hassan Tehranian and James Waegelein, "Management

Compensation Contracts and Merger-Induced Abnormal Returns" , Conference on Stewardship Uses of Accounting Information, Institute of Professional School of Business, University of Chicago, May 1987

89. Nickolaos G. Travlos with George Papaioannou, "Corporate Acquisitions: Methods of

Payment Effects, Capital Structure Effects and Bidding Firms Stock Returns" , Eastern Finance Association, Baltimore, MD, April 1987

90. Nickolaos G. Travlos with Marcia Millon Cornett, "Signalling Effects of Capital

Structure Changes on Shareholders Wealth; Some etsimates based on Debt-for-Equity and Equity-for-Debt exchange Offers " , Financial Management Association, New York, NY, October 1986

91. Nickolaos G. Travlos with George Handjinicolaou, Billy Helms and Hassan Tehranian,

"Distribution of Bond Price Changes and Alternative Portfolio Strategies" , Financial Management Association, New York, NY, October 1986

92. Nickolaos G. Travlos with Marcia Millon Cornett, "An Examination of the Motivation

for Leveraged Buyout Proposals" , Fourth International Congress of the North American Economics and Finance Association (NAEFA), Montreal, Canada, July 1986

93. Nickolaos G. Travlos with Marcia Millon Cornett, "Leveraged Buyouts versus

Exchange Offers: The Value of Control" , Financial Management Association, Denver, CO, October 1985

94. Nickolaos G. Travlos with George Papaioannou, "Merger-Induced Changes in Capital

Structure and Stockholders Returns" , Southern finance Association, Dallas, TX, November 1985

Others 95. Nickolaos G. Travlos with N. Milonas, “Institutional Investors and Corporate

Governance in Greece”, EPILOGI (Annual Edition, TRENDS), 2004, in Greek. 96. “Corporate Diversification and Corporate Value”, EPILOGI (Annual Edition, TRENDS),

2003, in Greek. 97. “Dividend Theory and Practice”, EPILOGI (Annual Edition, TRENDS), 2002, in Greek. 98. “The Development of Corporate Governance Systems”, EPILOGI (Annual Edition,

TRENDS), pp. 170-82, 2001, in Greek. 99. "Mergers and Acquisitions: World Experiences and Greek Prospects", EPILOGI

(Annual Edition, TRENDS), pp. 178-188, 2000, in Greek. 100."Corporate Governance: The Dual CEO-Theory and Empirical Evidence", EPILOGI

(Annual Edition, TRENDS), In Greek, pp. 160-165, 1999 101. "Stock Options Plans: Theory and Applications", Hellenic Bankers Association

Bulletin, In Greek, First quarter, 1999

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102. "Profitable Strategies for the Greek Banks", Hellenic Bankers Association Bulletin,

In Greek, 1996 103. "The Theory of Finance; Applications in Corporate and Investors Decisions",

EPILOGI, In Greek, March 1996 104. Nickolaos G. Travlos with Steven Andreou, "Applications of Real Options in Capital

Budgeting", Hellenic Bankers Association Bulletin, In Greek, December 1995 105. "Applications of Options in the Financing Decisions of the Firm", Hellenic Bankers

Association Bulletin, In Greek, March 1995

106. Nickolaos G. Travlos with George Papaioannou, "Initial Public Offers in the ASE. A Theoretical and Empirical Analysis", In the Greek Financial System: Trends and Prospects by G. Provopoulos (edited), I.O.B.E., In Greek, Athens, 1995

107. "Advantages and Disadvantages from Listing Firms in Stock Exchanges", The Greek

Financial System: Trends and Prospects by G. Provopoulos (edited), O.O.B.E., In Greek, Athens, 1995


Common Stock and Bond Prices of Issuing Firms", Essays in honor of Prof. A. Stavropoulos, In Greek, University of Piraeus, 1994

109. "Athens Stock Exchange: Risk Return Characteristics of Common Stocks for the

Period 1981-1990", Essays in honour of Prof. C. Drakatos, by G. Alogoskoufis, T. Kollintzas and G. Provopoulos (edited) Papazisis Publishers, Athens, 1994

110. "Investment Abroad: You take the Low Tax, and I'll Take the High Tax", Harvard

Business Review (Briefings from the Editor), p. 11 (Abstract based on the article An Empirical Study of the Consequences of US Tax Rules for International Acquisitions, July-August 1993

111. "Mergers and Acquisitions: A Review of the Empirical Evidence", Hellenic Bankers

Association Bulletin, In Greek, 3-4 Quarter, pp. 3-21, 1993 112. "Mergers and Acquisitions: A Theoretical Review", Bulletin of the Commercial Bank

of Greece, Athens, April-June 1991 113. Nickolaos G. Travlos with Anthony Saunders and Elizabeth Strock, "Ownership

Structure, Deregulation and Bank Risk Taking (Summary)", Proceedings, The 1988 Conference on Bank Structure and Competition, The Federal Reserve Bank of Chicago, 1988

114. Nickolaos G. Travlos with George Papaioannou, "Corporate Acquisitions: Method

and Payment Effects, Capital Structure Effects and Bidding Firms Stock Returns (Abstract)", Financial Review, Vol. 22(3), August 1987

115. Various articles and interviews in professional magazines and newspapers.

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Chapters in Books Nickolaos G. Travlos (with Paul Emmanouelides), 2014. Competitiveness for Growth.

Book chapter in Strategic Competitiveness in Greek Industries. Greek Bank

Federation, February.

Nickolaos G. Travlos, with A. Golubov and D. Petmezas, "Empirical Mergers and Acquisitions Research: a review of methods, evidence and managerial implications", In Bell, A., Brooks Chris, and Prokopczuk Marcel (Eds). Handbook of Research Methods and Applications in Empirical Finance, Edward Elgar Publishing, Inc., 2013

CITATIONS OF RESEARCH A. BOOKS Sudi Sudarsaman, “Creating Value from Mergers and Acquisitions: The Challenges”, Prentice Hall, 2003. Grinblatt M. and S. Titman, Financial Markets and Corporate Strategy, McGraw Hill, 1998 Ross S., R. Westerfield and J. Jaffe, Corporate Finance, (4th edition), IRWIN, 1996 Brealey R. and S. Myers, Principles of Corporate Finance (5th edition), McGraw-Hill, 1996 Amihud Yakov, “Leveraged Management Buyouts and Shareholders' Wealth in Leveraged Management Buyouts: Causes and Consequences” (edited) by Yakov Amihud, Dow Jones-Irwin, 1989, Chapter 1 Kieschnick Robert L., Jr. “Management Buyouts of Public Corporations: an Analysis of Prior Characteristics in Leveraged Management Buyouts: Causes and Consequences” (edited) by Yakov Amihud, Dow Jones-Irwin, 1989, Chapter 2 Masulis Ronald W., “The Debt/Equity Choice”, Ballinger Publishing Company, 1988, Chapter 2 (p. 97) Ross Stephen, Randolph W. Westerfield, Kirt Butler and Ernest W. Shift, “Instructors Manual to Accompany Ross/Westerfield Corporate Finance Times” Mirror Mosby College Publishing, 1988 (pp. 162, 163) Weston J. Fred, Kwang S. Chung and Susan E. Haog, “Mergers Restructuring and Corporate Control”, Prentice-Hall, January 1990, Chapters 13 and 16 Anthony Saunders, “Financial Institutions Management: A Modern Perspective”, Irwin, 1994 (pp. 188, 350, 415) B. PUBLISHED ARTICLES My work has been cited widely (at least 5,000) in articles published in leading academic journals, such as:

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The Journal of Finance Journal of Financial Economics Financial Management Journal of Financial and Quantitative Analysis A list of citations is available upon request. EDITORIAL BOARDS/MEMBERSHIP IN PROFESSIONAL ASSOCIATIONS Co-editor, Multinational Finance Journal Associate Editor, European Financial Management Associate Editor, Corporate Finance Review Associate Editor, Spoudai Member American Finance Association Financial Management Association European Financial Management Association Multinational Finance Society PROFESSIONAL EXPERIENCE 2012 to present: Unibios, S.A., Board Member 2012 to present: Foundation for Economic and Industrial Studies, Board Member 2012 to present: Hellenic Bank Association, Member of Academic Committee 2012 to 2016: International Transparency Hellas, Vice-Chairman of the Board 2012 to 2015: Athens International Airport, Chairman of the Board of Directors 2009 to 2012: Hellenic Competition Commission, Member of the Board 2008 to 2010: Mercedes-Benz Hellas S.A., Member of the Board 2004 to 2009: Hellenic Capital Market Commission, Member of the Board 2001 to 2003: Aspis Investments S.A., Athens-Greece, Member of the Board of Directors 2000 to 2003: Mosholios S.A., Athens-Greece, Member of the Board of Directors 2000 to 2001: Unit Bank S.A., Athens-Greece, Member of the Board of Directors

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1994 to 2001: TEFIN S.A., Athens-Greece, Member of the Board of Directors 1993 to 2001: Toyota Hellas, Athens-Greece, Consultant November 1990 to February 1992: Bank of Piraeus, Greece. Member of the Board of Directors Spring 1989 to 1991: ABD Securities Corporation, One Battery Park Plaza, New York, NY, Consultant Updated May, 2017

travlos nickolaos g - alba · professor (chair) in finance and accounting surrey business school...

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